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\begin{tabular}{lccccc} \hline
 & (1) & (2) & (3) & (4) & (5) \\
 & OLS & OLS & OLS & 2SLS & System GMM \\
VARIABLES & Electoral democracy index & Electoral democracy index & Electoral democracy index & Electoral democracy index & Electoral democracy index \\ \hline
 &  &  &  &  &  \\
Arms Technology Index (IRT) = L, & -7.57*** & -11.52*** & -11.17*** & -32.67** & -5.46*** \\
 & (2.61) & (2.62) & (2.61) & (13.48) & (1.91) \\
Arms Technology Index x Western Europe (IRT) = L, &  & 16.83 &  &  &  \\
 &  & (11.18) &  &  &  \\
GDP per capita (log) = L, & 8.85*** & 9.54*** & 8.60*** & 10.86*** & 2.95** \\
 & (1.84) & (1.91) & (2.02) & (2.43) & (1.30) \\
Small arms (IRT) = L, & 0.07 &  &  &  &  \\
 & (2.02) &  &  &  &  \\
 &  &  &  &  &  \\
Observations & 2,368 & 2,368 & 1,882 & 1,882 & 1,898 \\
Sample & Full & Full & Excl. WEU & Excl. WEU & Excl. WEU \\
Countries & 143 & 143 & 127 & 127 & 153 \\
 Kleibergen-Paap F-statistic &  &  &  & 21.87 &  \\ \hline
\multicolumn{6}{c}{ Robust standard errors in parentheses} \\
\multicolumn{6}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
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